大佬先撤了

Core Viewpoint - The article discusses the recent trends in the stock market, particularly focusing on the significant sell-offs by prominent investors like Huang Renxun and Bill Gates, amidst a booming AI-driven market. It highlights the implications of these actions for potential investment strategies and market sentiment [3][4][9]. Market Performance - The Dow Jones Industrial Average reached a historical high of 48,431.57 points, marking a 46% increase since the beginning of 2023, which is considered the start of the current bull market [3]. - The Nasdaq index also hit a record high of 24,019.99 points, reflecting a more than 131.25% increase since the start of 2023 [3]. Key Technology Stocks - Major tech companies have significantly contributed to the bull market, with Microsoft and Apple both doubling their stock prices, each reaching a market capitalization of around $4 trillion [4]. - Nvidia has seen an extraordinary increase of over 1300%, becoming the first company to surpass a market cap of $5 trillion, with its founder Huang Renxun becoming the richest Chinese individual globally [4]. Notable Sell-offs - Huang Renxun and Bill Gates have both been reducing their stakes in their respective companies, Nvidia and Microsoft, raising questions about their future outlooks [4][9]. - The SEC's "Form 13F" filings revealed that several prominent investors, including Warren Buffett, have made significant adjustments to their portfolios, including selling off shares of Apple and Nvidia [4][5]. Berkshire Hathaway's Strategy - Berkshire Hathaway has reduced its Apple stock holdings by 15% in Q3 2025, with a market value decline exceeding $10 billion [6]. - The company has recently invested in Alphabet (Google), acquiring 17.85 million shares valued at $4.34 billion, indicating a strategic shift towards tech stocks that are perceived to have better growth potential [7]. Valuation Metrics - Comparing revenue growth, Apple reported $102.47 billion in Q4 2025 with a growth rate of 7.94%, while Alphabet reported $102.34 billion in Q3 2025 with a growth rate of 16% [7]. - In terms of price-to-earnings (P/E) ratios, Alphabet's P/E is below 28, making it a more attractive investment compared to Apple's P/E of over 35 [8]. Investor Behavior - Huang Renxun has been consistently selling Nvidia shares, reducing his holdings to below 70 million shares, with significant sales occurring around the stock's peak price [10]. - Bill Gates' foundation has sold 17 million shares of Microsoft, reducing its stake by 65%, indicating a strategic reallocation of assets [12][13]. Other Notable Investors - Investor Duan Yongping has also reduced his Nvidia holdings by 38.04%, reflecting a cautious approach to the current market conditions [14][15]. - Son Masayoshi has completely exited his position in Nvidia, marking a significant shift in his investment strategy after previously holding a substantial stake [15][16].